There were 109 mergers and/or acquisitions last year involving registered investment advisors, according to data released Wednesday.

Schwab Advisor Services., which provides custodial, operational and trading support for more than 6,000 independent registered investment advisory firms, reported that this marketed the largest number of deals in a year since Schwab began tracking deal activity in 2003 and a significant increase from the 70 deals in 2009.

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